National Presto Industries (NPK) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Oct. 02, 2016	Nov. 01, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 2, 2016
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016
Entity Registrant Name	NATIONAL PRESTO INDUSTRIES INC
Entity Central Index Key	80,172
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		6,948,664

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 02, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 8,018	$ 56,222
Marketable securities	65,779	32,259
Accounts receivable, net	58,131	67,528
Inventories:
Finished goods	40,605	32,585
Work in process	78,967	57,484
Raw materials and supplies	8,462	8,553
Total inventory	128,034	98,622
Income tax receivable	3,662
Other current assets	7,959	6,961
Total current assets	271,583	261,592
PROPERTY, PLANT AND EQUIPMENT	180,965	177,628
Less allowance for depreciation	95,546	86,322
PROPERTY, PLANT AND EQUIPMENT, NET	85,419	91,306
GOODWILL	11,485	11,485
INTANGIBLE ASSETS, net	5,114	5,471
NOTES RECEIVABLE	6,481	3,940
DEFERRED INCOME TAXES		3,336
OTHER ASSETS	6,505	10,254
Total assets	386,587	387,384
CURRENT LIABILITIES:
Accounts payable	40,651	32,536
Federal and state income taxes		2,196
Accrued liabilities	15,043	13,398
Total current liabilities	55,694	48,130
DEFERRED INCOME TAXES	1,708
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock, $1 par value: Authorized: 12,000,000 shares; Issued: 7,440,518 shares	7,441	7,441
Paid-in capital	7,675	6,775
Retained earnings	329,429	340,799
Accumulated other comprehensive (loss)	(20)	(9)
Stockholders' Equity before Treasury Stock	344,525	355,006
Treasury stock, at cost	15,340	15,752
Total stockholders' equity	329,185	339,254
Total liabilities and stockholders' equity	$ 386,587	$ 387,384

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 02, 2016	Dec. 31, 2015
Condensed Consolidated Balance Sheets [Abstract]
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	12,000,000	12,000,000
Common stock, shares issued	7,440,518	7,440,518

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2016	Oct. 04, 2015	Oct. 02, 2016	Oct. 04, 2015
Consolidated Statements Of Comprehensive Income [Abstract]
Net sales	$ 93,078	$ 90,901	$ 267,560	$ 294,271
Cost of sales	74,614	71,780	212,899	233,838
Gross profit	18,464	19,121	54,661	60,433
Selling and general expenses	6,226	6,624	19,081	18,567
Intangibles amortization		356	568	3,638
Operating profit	12,238	12,141	35,012	38,228
Other income	223	236	591	412
Earnings before provision for income taxes	12,461	12,377	35,603	38,640
Provision for income taxes	4,157	4,266	11,814	13,300
Net earnings	$ 8,304	$ 8,111	$ 23,789	$ 25,340
Weighted average shares outstanding:
Basic and diluted	6,972	6,953	6,969	6,948
Net earnings per share:
Basic and diluted	$ 1.19	$ 1.17	$ 3.41	$ 3.65
Other comprehensive loss, net of tax:
Unrealized loss on available-for-sale securities	$ 29	$ 7	$ 11	$ 1
Comprehensive income	$ 8,275	$ 8,104	$ 23,778	$ 25,339
Cash dividends declared and paid per common share	$ 0	$ 0	$ 5.05	$ 4.05

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Oct. 02, 2016	Oct. 04, 2015
Cash flows from operating activities:
Net earnings	$ 23,789	$ 25,340
Adjustments to reconcile net earnings to net cash provided by operating activities:
Provision for depreciation	9,390	7,700
Intangibles amortization	568	3,638
Provision for doubtful accounts	12	279
Non-cash retirement plan expense	578	586
Loss (gain) on disposal of property, plant and equipment	431	(21)
Other	126	177
Changes in:
Accounts receivable	9,385	17,588
Inventories	(29,412)	(27,165)
Other assets and current assets	2,751	(5,250)
Accounts payable and accrued liabilities	9,760	(2,678)
Federal and state income taxes	(764)	1,329
Net cash provided by operating activities	26,614	21,523
Cash flows from investing activities:
Marketable securities purchased	(49,256)	(9,871)
Marketable securities - maturities and sales	15,720	7,695
Notes issued	(2,419)
Acquisition of intangible assets	(211)
Purchase of property, plant and equipment	(3,936)	(5,559)
Sale of property, plant and equipment	2	23
Net cash used in investing activities	(40,100)	(7,712)
Cash flows from financing activities:
Dividends paid	(35,161)	(28,114)
Proceeds from sale of treasury stock	443	323
Other		(5)
Net cash used in financing activities	(34,718)	(27,796)
Net decrease in cash and cash equivalents	(48,204)	(13,985)
Cash and cash equivalents at beginning of period	56,222	54,043
Cash and cash equivalents at end of period	$ 8,018	$ 40,058

Basis Of Presentation

Basis Of Presentation	9 Months Ended
	Oct. 02, 2016
Basis Of Presentation [Abstract]
Basis Of Presentation	NOTE A – BASIS OF PRESENTATION The consolidated interim financial statements included herein are unaudited and have been prepared by the Company pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). In the opinion of management of the Company, the consolidated interim financial statements reflect all the adjustments which were of a normal recurring nature necessary for a fair presentation of the results of the interim periods. The condensed consolidated balance sheet as of December 31, 2015 is summarized from audited consolidated financial statements, but does not include all the disclosures contained therein and should be read in conjunction with the 2015 Annual Report on Form 10-K. Interim results for the period are not indicative of those for the year.

Reclassifications

Reclassifications	9 Months Ended
	Oct. 02, 2016
Reclassifications [Abstract]
Reclassifications	NOTE B – RECLASSIFICATIONS Certain reclassifications have been made to the prior periods’ financial statements to conform to the current period’s financial statement presentation. These reclassifications did not affect net earnings or stockholders’ equity as previously reported.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Oct. 02, 2016
Earnings Per Share [Abstract]
Earnings Per Share	NOTE C – EARNINGS PER SHARE Basic earnings per share is based on the weighted average number of common shares and participating securities outstanding during the period. Diluted earnings per share also includes the dilutive effect of additional potential common shares issuable. Unvested stock awards, which contain non-forfeitable rights to dividends whether paid or unpaid (“participating securities”), are included in the number of shares outstanding for both basic and diluted earnings per share calculations.

Business Segments

Business Segments	9 Months Ended
	Oct. 02, 2016
Business Segments [Abstract]
Business Segments	NOTE D – BUSINESS SEGMENTS In the following summary, operating profit represents earnings before other income, principally interest income and income taxes. The Company's segments operate discretely from each other with no shared manufacturing facilities. Costs associated with corporate activities (such as cash and marketable securities management) and the assets associated with such activities are included within the Housewares/Small Appliances segment for all periods presented.     (in thousands)  Housewares / Small Appliances Defense Products Absorbent Products Total  Quarter ended October 2, 2016  External net sales $ 23,716 $ 50,817 $ 18,545 $ 93,078  Gross profit 3,779 13,634 1,051 18,464  Operating profit 1,167 10,745 326 12,238  Total assets 165,523 161,663 59,401 386,587  Depreciation and amortization 257 1,778 1,458 3,493  Capital expenditures - 967 390 1,357   Quarter ended October 4, 2015  External net sales $ 27,704 $ 44,621 $ 18,576 $ 90,901  Gross profit 6,224 12,700 197 19,121  Operating profit (loss) 3,040 9,654 (553) 12,141  Total assets 162,606 144,239 62,924 369,769  Depreciation and amortization 219 1,050 1,758 3,027  Capital expenditures 2,400 (3) 307 2,704      (in thousands)  Housewares / Small Appliances Defense Products Absorbent Products Total  Nine Months ended October 2, 2016  External net sales $ 64,392 $ 145,599 $ 57,569 $ 267,560  Gross profit 11,973 39,293 3,395 54,661  Operating profit 4,048 30,038 926 35,012  Total assets 165,523 161,663 59,401 386,587  Depreciation and amortization 755 4,844 4,359 9,958  Capital expenditures 892 2,090 954 3,936   Nine Months ended October 4, 2015  External net sales $ 72,960 $ 166,945 $ 54,366 $ 294,271  Gross profit (loss) 15,477 45,253 (297) 60,433  Operating profit (loss) 6,998 33,830 (2,600) 38,228  Total assets 162,606 144,239 62,924 369,769  Depreciation and amortization 688 5,667 4,983 11,338  Capital expenditures 3,379 121 2,059 5,559  

Fair Value Of Financial Instrum

Fair Value Of Financial Instruments	9 Months Ended
	Oct. 02, 2016
Fair Value Of Financial Instruments [Abstract]
Fair Value Of Financial Instruments	NOTE E - FAIR VALUE OF FINANCIAL INSTRUMENTS The Company utilizes the methods of fair value as described in Financial Accounting Standard Board (“FASB”) Accounting Standard Codification (“ASC”) 820, Fair Value Measurements and Disclosures, to value its financial assets and liabilities. ASC 820 utilizes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.  The carrying amount for cash and cash equivalents, accounts receivable, note receivable, accounts payable, and accrued liabilities approximates fair value due to the immediate or short-term maturity of these financial instruments.

Cash, Cash Equivalents And Mark

Cash, Cash Equivalents And Marketable Securities	9 Months Ended
	Oct. 02, 2016
Cash, Cash Equivalents And Marketable Securities [Abstract]
Cash, Cash Equivalents And Marketable Securities	NOTE F - CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES The Company considers all highly liquid marketable securities with an original maturity of three months or less to be cash equivalents. Cash equivalents include money market funds. The Company deposits its cash in high quality financial institutions. The balances, at times, may exceed federally insured limits. Money market funds are reported at fair value determined using quoted prices in active markets for identical securities (Level 1, as defined by FASB ASC 820).  The Company has classified all marketable securities as available-for-sale which requires the securities to be reported at estimated fair value, with unrealized gains and losses, net of tax, reported as a separate component of stockholders' equity. Highly liquid, tax-exempt variable rate demand notes with put options exercisable in three months or less are classified as marketable securities.  At October 2, 2016 and December 31, 2015, cost for marketable securities was determined using the specific identification method. A summary of the amortized costs and fair values of the Company’s marketable securities at the end of the periods presented is shown in the following table. All of the Company’s marketable securities are classified as Level 2, as defined by FASB ASC 820, with fair values determined using significant other observable inputs, which include quoted prices in markets that are not active, quoted prices of similar securities, recently executed transactions, broker quotations, and other inputs that are observable. There were no transfers into or out of Level 2 during the nine months ended October 2, 2016.     (In Thousands)  MARKETABLE SECURITIES  Amortized Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses  October 2, 2016  Tax-exempt Municipal Bonds $ 28,913 $ 28,883 $ 2 $ 32  Variable Rate Demand Notes 36,896 36,896 - -  Total Marketable Securities $ 65,809 $ 65,779 $ 2 $ 32   December 31, 2015  Tax-exempt Municipal Bonds $ 20,129 $ 20,115 $ 4 $ 18  Variable Rate Demand Notes 12,144 12,144 - -  Total Marketable Securities $ 32,273 $ 32,259 $ 4 $ 18  Proceeds from maturities and sales of available-for-sale securities totaled $ 12,329,000 and $ 3,346,000 for the three month periods ended October 2, 2016 and October 4, 2015, respectively, and totaled $15,720,000 and $7,695,000 for the nine month periods then ended, respectively. There were no gross gains or losses related to sales of marketable securities during the same periods. Net unrealized losses included in other comprehensive income were $ 44,000 and $ 10,000 before taxes for the three month periods ended October 2, 2016 and October 4, 2015, respectively, and were $16,000 and $1,000 before taxes for the nine month periods then ended, respectively. No unrealized gains or losses were reclassified out of accumulated other comprehensive income during the same periods.  The contractual maturities of the marketable securities held at October 2, 2016 are as follows: $ 22,406,000 within one year; $ 11,721,000 beyond one year to five years; $ 6,638,000 beyond five years to ten years, and $ 25,014,000 beyond ten years. All of the instruments in the beyond five year ranges are variable rate demand notes which can be tendered for cash at par plus interest within seven days. Despite the stated contractual maturity date, to the extent a tender is not honored, the notes become immediately due and payable.

Other Assets

Other Assets	9 Months Ended
	Oct. 02, 2016
Other Assets [Abstract]
Other Assets	NOTE G – OTHER ASSETS Other Assets includes prepayments that are made from time to time by the Company for certain materials used in the manufacturing process in the Housewares/Small Appliances segment. The Company expects to utilize the prepayments and related materials over an estimated period of up to three years. As of October 2, 2016 and December 31, 2015, $12,505,000 and $16,254,000 of such prepayments, respectively, remained unused and outstanding. At October 2, 2016 and December 31, 2015, $6,000,000 of these amounts were included in Other Current Assets, representing the Company’s best estimate of the expected utilization of the prepayments and related materials during the twelve-month periods following those dates.

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
	Oct. 02, 2016
Commitments And Contingencies [Abstract]
Commitments And Contingencies	NOTE H – COMMITMENTS AND CONTINGENCIES The Company is involved in largely routine litigation incidental to its business. Management believes the ultimate outcome of the litigation will not have a material effect on the Company's consolidated financial position, liquidity, or results of operations.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Oct. 02, 2016
Recently Issued Accounting Pronouncements [Abstract]
Recently Issued Accounting Pronouncements	NOTE I – RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS  In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments , which addresses diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 provides guidance on the following eight specific cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies; distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. ASU 2016-15 is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company does not expect the adoption of ASU 2016-15 to have a material impact on its consolidated financial statements.  In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . ASU 2016-13 provides guidance for estimating credit losses on certain types of financial instruments, including trade receivables, by introducing an approach based on expected losses. The expected loss approach will require entities to incorporate considerations of historical information, current information and reasonable and supportable forecasts. ASU 2016-13 also amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The guidance requires a modified retrospective transition method and early adoption is permitted. The Company does not expect the adoption of ASU 2016-13 to have a material impact on its consolidated financial statements.  In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . ASU 2016-09 provides guidance that simplifies some provisions in stock compensation accounting for tax consequences related to stock payments and amends how excess tax benefits and payments to cover the tax liabilities of award recipients should be classified. ASU 2016-09 also allows an entity to elect an accounting policy for forfeitures and revises the withholding requirements for classifying stock awards as equity. The guidance is effective for annual periods beginning after December 15, 2016, with early adoption permitted. The Company does not expect the adoption of ASU 2016-09 to have a material impact on its consolidated financial statements.  In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required. The Company is currently evaluating the impact of the adoption of ASU 2016-02 on its consolidated financial statements.  In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , which provides guidance for the recognition, measurement, presentation, and disclosure of financial assets and liabilities. The guidance is effective for reporting periods (interim and annual) beginning after December 15, 2017. The Company does not expect the adoption of ASU 2016-01 to have a material effect on its consolidated financial statements.  In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments . ASU 2015-16 requires the acquirer in a business combination to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The new guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been previously issued. The Company does not expect the adoption of ASU 2015-16 to have a material impact on its consolidated financial statements.  In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory . ASU 2015-11 requires inventory to be measured at the lower of cost and net realizable value. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. ASU 2015-11 does not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method, but applies to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO) or average cost. ASU 2015-11 is effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. The Company does not expect the adoption of ASU 2015-11 to have a material impact on its consolidated financial statements.  In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) which amended the existing accounting standards for revenue recognition. ASU 2014-09 establishes principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. It is effective for annual reporting periods beginning after December 15, 2017. Early adoption is permitted as of annual reporting periods beginning after December 15, 2016. The amendment may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of initial application. The Company is currently in the process of evaluating the impact of adoption of the ASU on its consolidated financial statements, but does not expect the impact to be material.

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Oct. 02, 2016
Business Segments [Abstract]
Summary Of Business Segments Information	   (in thousands)  Housewares / Small Appliances Defense Products Absorbent Products Total  Quarter ended October 2, 2016  External net sales $ 23,716 $ 50,817 $ 18,545 $ 93,078  Gross profit 3,779 13,634 1,051 18,464  Operating profit 1,167 10,745 326 12,238  Total assets 165,523 161,663 59,401 386,587  Depreciation and amortization 257 1,778 1,458 3,493  Capital expenditures - 967 390 1,357   Quarter ended October 4, 2015  External net sales $ 27,704 $ 44,621 $ 18,576 $ 90,901  Gross profit 6,224 12,700 197 19,121  Operating profit (loss) 3,040 9,654 (553) 12,141  Total assets 162,606 144,239 62,924 369,769  Depreciation and amortization 219 1,050 1,758 3,027  Capital expenditures 2,400 (3) 307 2,704      (in thousands)  Housewares / Small Appliances Defense Products Absorbent Products Total  Nine Months ended October 2, 2016  External net sales $ 64,392 $ 145,599 $ 57,569 $ 267,560  Gross profit 11,973 39,293 3,395 54,661  Operating profit 4,048 30,038 926 35,012  Total assets 165,523 161,663 59,401 386,587  Depreciation and amortization 755 4,844 4,359 9,958  Capital expenditures 892 2,090 954 3,936   Nine Months ended October 4, 2015  External net sales $ 72,960 $ 166,945 $ 54,366 $ 294,271  Gross profit (loss) 15,477 45,253 (297) 60,433  Operating profit (loss) 6,998 33,830 (2,600) 38,228  Total assets 162,606 144,239 62,924 369,769  Depreciation and amortization 688 5,667 4,983 11,338  Capital expenditures 3,379 121 2,059 5,559  

Cash, Cash Equivalents And Ma16

Cash, Cash Equivalents And Marketable Securities (Tables)	9 Months Ended
	Oct. 02, 2016
Cash, Cash Equivalents And Marketable Securities [Abstract]
Summary Of The Amortized Costs And Fair Values Of Marketable Securities	   (In Thousands)  MARKETABLE SECURITIES  Amortized Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses  October 2, 2016  Tax-exempt Municipal Bonds $ 28,913 $ 28,883 $ 2 $ 32  Variable Rate Demand Notes 36,896 36,896 - -  Total Marketable Securities $ 65,809 $ 65,779 $ 2 $ 32   December 31, 2015  Tax-exempt Municipal Bonds $ 20,129 $ 20,115 $ 4 $ 18  Variable Rate Demand Notes 12,144 12,144 - -  Total Marketable Securities $ 32,273 $ 32,259 $ 4 $ 18 

Business Segments (Schedule Of

Business Segments (Schedule Of Segment Information) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2016	Oct. 04, 2015	Oct. 02, 2016	Oct. 04, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
External net sales	$ 93,078	$ 90,901	$ 267,560	$ 294,271
Gross profit (loss)	18,464	19,121	54,661	60,433
Operating profit (loss)	12,238	12,141	35,012	38,228
Total assets	386,587	369,769	386,587	369,769	$ 387,384
Depreciation and amortization	3,493	3,027	9,958	11,338
Capital expenditures	1,357	2,704	3,936	5,559
Housewares/ Small Appliances [Member]
Segment Reporting Information [Line Items]
External net sales	23,716	27,704	64,392	72,960
Gross profit (loss)	3,779	6,224	11,973	15,477
Operating profit (loss)	1,167	3,040	4,048	6,998
Total assets	165,523	162,606	165,523	162,606
Depreciation and amortization	257	219	755	688
Capital expenditures		2,400	892	3,379
Defense Products [Member]
Segment Reporting Information [Line Items]
External net sales	50,817	44,621	145,599	166,945
Gross profit (loss)	13,634	12,700	39,293	45,253
Operating profit (loss)	10,745	9,654	30,038	33,830
Total assets	161,663	144,239	161,663	144,239
Depreciation and amortization	1,778	1,050	4,844	5,667
Capital expenditures	967	(3)	2,090	121
Absorbent Products [Member]
Segment Reporting Information [Line Items]
External net sales	18,545	18,576	57,569	54,366
Gross profit (loss)	1,051	197	3,395	(297)
Operating profit (loss)	326	(553)	926	(2,600)
Total assets	59,401	62,924	59,401	62,924
Depreciation and amortization	1,458	1,758	4,359	4,983
Capital expenditures	$ 390	$ 307	$ 954	$ 2,059

Cash, Cash Equivalents And Ma18

Cash, Cash Equivalents And Marketable Securities (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 02, 2016	Oct. 04, 2015	Oct. 02, 2016	Oct. 04, 2015
Cash, Cash Equivalents And Marketable Securities [Line Items]
Transfers into Level 2	$ 0		$ 0
Transfers out of Level 2	0		0
Proceeds from sales of available-for-sale securities	12,329,000	$ 3,346,000	15,720,000	$ 7,695,000
Gross gains or losses related to sales of marketable securities	0	0	0	0
Net unrealized gains (losses) included in accumulated other comprehensive income, before taxes	(44,000)	(10,000)	(16,000)	(1,000)
Contractual maturities of marketable securities within 1 year	22,406,000		22,406,000
Contractual maturities of marketable securities, years 2-5	11,721,000		11,721,000
Contractual maturities of marketable securities, years 6-10	6,638,000		6,638,000
Contractual maturities of marketable securities, after 10 years	25,014,000		$ 25,014,000
Marketable securities liquidation period			7 days
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Cash, Cash Equivalents And Marketable Securities [Line Items]
Reclassification out of AOCI	$ 0	$ 0	$ 0	$ 0

Cash, Cash Equivalents And Ma19

Cash, Cash Equivalents And Marketable Securities (Summary Of The Amortized Costs And Fair Values Of Marketable Securities) (Details) - USD ($) $ in Thousands	Oct. 02, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
MARKETABLE SECURITIES, Amortized Cost	$ 65,809	$ 32,273
MARKETABLE SECURITIES, Fair Value	65,779	32,259
MARKETABLE SECURITIES, Gross Unrealized Gains	2	4
MARKETABLE SECURITIES, Gross Unrealized Losses	32	18
Tax-Exempt Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
MARKETABLE SECURITIES, Amortized Cost	28,913	20,129
MARKETABLE SECURITIES, Fair Value	28,883	20,115
MARKETABLE SECURITIES, Gross Unrealized Gains	2	4
MARKETABLE SECURITIES, Gross Unrealized Losses	32	18
Variable Rate Demand Notes [Member]
Schedule of Available-for-sale Securities [Line Items]
MARKETABLE SECURITIES, Amortized Cost	36,896	12,144
MARKETABLE SECURITIES, Fair Value	$ 36,896	$ 12,144

Other Assets (Narrative) (Detai

Other Assets (Narrative) (Details) - Housewares/ Small Appliances [Member] - USD ($) $ in Thousands	9 Months Ended
	Oct. 02, 2016	Dec. 31, 2015
Expected prepayment utilization period	3 years
Other Assets [Member]
Materials Prepayments	$ 12,505	$ 16,254
Other Current Assets [Member]
Materials Prepayments	$ 6,000	$ 6,000